The Lindsay Fox- and Max Beck-owned Essendon Fields will develop a service centre to cater for a growing market of private jets, after striking a deal with global manufacturer Bombardier to set up a new maintenance, repair and overhaul (MRO) facility at Melbourne's second airport.
The $25-million facility, which Bombardier will lease for an initial 15-year term, is due to start operating in 2022. It is the first in Australia for the Toronto-listed company and its next in the region after Singapore.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
